PRIME is selected as the 2023 ESG Emerging list

        Bangkok – Mr. Somprasong Panjalak, the Chairman and the Chief Executive Officer of Prime Road Power Public Company Limited, revealed that “PRIME is very pleased to be selected as one of the 15 listed companies to entering in the ESG100 universe for the first time, as the 2023 ESG Emerging list. Thaipat Institute has reviewed 888 companies/funds/investment trusts using ESG information from over 16,445 publicly available data points from 6 data sources, over 16,445 data points, as disclosed by the company to the public. and passed the preliminary screening criteria used in the evaluation of Thaipat Institute’s ESG100 securities according to the CORE Framework principles in order to increase the opportunity to generate good long-term returns for investors.

        Khun Somprasong said that “Being selected into the 2023 ESG Emerging Group reinforces PRIME’s success and PRIME has dedicated its efforts to enhance investor confidence, including stakeholders who consider to invest in the sustainable investment strategy that emphasizing on the environmental dimension (Environment), Social (Social) and Governance (Governance) or ESG along with analyzing financial information of business to generate long-term returns and create positive impacts or reduce negative impacts on society and the environment.”

        In May 2023, PRIME submitted in the Sustainability Assessment (THSI) questionnaires with the Stock Exchange of Thailand (SET), that consists of 20 general criteria covering economic dimensions (including corporate governance), society and environment and indicators according to the nature of the business in each industry group, such as Emerging Risk, Environmental Management, Biodiversity. The SET will announce the results in October 2023. In addition, this year 2023, PRIME has implemented a Corporate Social Responsibility Project to promote gender equality by Prime Road Alternative (Cambodia) Co., Ltd., signed an MOU with the Population and Community Development Association. (PDA), Population and Development International (PDI) The Bamboo School and The Socio-Economic Vision Alliance (SEVA) – Cambodia to develop 2 pilot schools, Samaki Meanchey School and Santepheab Primary School, that locate close to the Thai-Cambodian border. Once the first two model schools are successful, PDA and Bamboo School will provide technical assistance as required to assist SEVA to carry out activities that will be improve or expand the support, they provide to the Schools Partnership Program in Cambodia.

        PRIME is a leading company in the renewable energy business which is clean energy. PRIME has a track record in developing and operating internationally recognized power plants with a highly predictable cash flow due to long-term power purchase agreements with government agencies. PRIME is confident in achieving the goal by 2024; there will be investment and construction of solar power plants across Asia of at least 800 megawatts which have grown almost three times from today.

        Although the solar power plant business is considered low-risk, developing a large project involves many processes: acquiring land, licensing, and construction. Therefore, the cash flow period to be received is approximately 1-2 years, starting when an investment. The investment causes more debt to the company. However, the operating profit of the company will be improved from a full year of the recognition of solar projects.

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